TORONTO, Sept. 12 /PRNewswire-FirstCall/ - Transition Therapeutics Inc. ("Transition" or the "Company") (TSX: TTH, NASDAQ:TTHI) a product-focused biopharmaceutical company developing therapeutics for disease indications with large markets, today announced its financial results for the year ended June 30, 2007.
During fiscal 2007 and up to the date of this press release, the Company achieved the following significant milestones:
ELND005/AZD-103 - Alzheimer's Disease:
- Clinical Data Results: On August 30, 2007, the Company Announced
Completion of Multiple Phase I Clinical Studies with Alzheimer's
Disease Drug Candidate ELND-005/AZD-103. ELND-005/AZD-103 was safe
and well-tolerated at all doses and dosing regimens examined. There
were no severe or serious adverse events observed. ELND-005/AZD-103
was also shown to be orally bio-available, cross the blood-brain
barrier and achieve levels in the human brain and CSF that were shown
to be effective in animal models for Alzheimer's disease.
- FDA Granted Fast Track Designation for Alzheimer's Disease Drug
Candidate ELND-005/AZD-103 which is being developed in collaboration
with Elan Pharma International Limited ("Elan") for the treatment of
- Transition and Elan signed a US$200 million global collaboration
agreement to develop and commercialize the Alzheimer's disease
product, ELND-005/AZD-103. Under the terms of the agreement,
Transition has received an upfront payment of US$7.5 million and will
receive an additional upfront payment of US$7.5 million in calendar
2007. Dependent upon the successful development, regulatory and
commercial launch of ELND-005/AZD-103, Transition will be eligible to
|SOURCE Transition Therapeutics Inc.|
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